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NetSpend is one of the largest and fastest growing participants in the debit card industry, processing branded and private-label prepaid debit card products. The Company’s product offerings include general purpose reloadable prepaid debit cards, general purpose gift cards and customized debit card programs for large credit card issuers and other consumer-driven companies. NetSpend is the only company in its market to perform in-house, front-end marketing and back-end processing. JLL sold the Company to Total System Services.

INVESTMENT STRATEGY

Strong Growth Potential: JLL acquired its stake in NetSpend through a stock-for-stock merger of Skylight Financial, a portfolio company of JLL Funds IV and V, into NetSpend in July 2008. The combination of NetSpend and Skylight created an industry-leading debit account platform delivering products to consumers directly and indirectly through retail partners and as payroll cards issued through Fortune 500 and other high quality corporate customers. The power of this combined business model and the strength and depth of NetSpend’s management team drove significant top-line growth and margin expansion, resulting in adjusted EBITDA tripling from the combined amount at the time of JLL’s original standalone Skylight investment in 2007 to fiscal 2013 management estimated levels.


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